In Russia and the government for the Far Eastern province of Primorsky Krai has reportedly announced that it is to help casino operator NagaCorp Limited speed up construction on its $350 million Naga Vladivostok development.
According to a report from Inside Asian Gaming, Hong Kong-listed NagaCorp Limited is the firm behind Cambodia’s NagaWorld gaming complex and broke ground on its inaugural Russian facility in late-May of 2015. The source detailed that the envisioned venue located some 24 miles north of Vladivostok was originally due to open by the beginning of 2018 but had this timetable pushed back less than a year later after construction workers unearthed some archeological finds.
NagaCorp Limited subsequently encountered further delays caused by the ongoing coronavirus pandemic and now reportedly does not expect to begin welcoming guests to the $150 million first stage of its Steelman Partners-designed facility in the Primorye Integrated Entertainment Resort zone until later this year.
To help prevent any additional setbacks and the jurisdiction’s Tourism Director, Konstantin Shestakov, has now reportedly divulged that the next few months are to see his office expedite the granting of permits for any foreigners working on the 279-room Naga Vladivostok. He purportedly moreover explained that NagaCorp Limited has so far constructed about 60% of the property’s eleven-story first phase at a cost of approximately $84 million and hopes to begin welcoming guests to the development’s casino, hotel, concert hall and water park by the end of June.
Reportedly read a statement from Shestakov…
“Due to the situation with coronavirus, Naga Vladivostok was unable to bring in workers from its Chinese contractors. We hope that with the support of the government along with the stabilization of the situation in the world, NagaCorp Limited will be able to complete construction of this wonderful facility.”
Already home to the 121-room Tigre de Cristal facility from Hong Kong-listed Summit Ascent Holdings Limited, the Primorye Integrated Entertainment Resort zone welcomed the $45 million first stage of the Shambala Casino from local concern Shambala CJSC in October. The 1,530-acre precinct is one of only five disparate areas in Russia where casino gambling is permitted and could soon reportedly also play host to a $270 million Las Vegas-style venue from Diamond Fortune Holdings by the start of 2023.
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